Janux Therapeutics (NASDAQ:JANX) Given “Buy” Rating at HC Wainwright

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $63.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 40.25% from the company’s previous close.

JANX has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Janux Therapeutics in a research note on Thursday, August 8th. Scotiabank reduced their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.57.

Janux Therapeutics Trading Up 3.5 %

Shares of Janux Therapeutics stock opened at $44.92 on Monday. The firm has a market cap of $2.33 billion, a PE ratio of -36.82 and a beta of 3.57. Janux Therapeutics has a 12 month low of $5.65 and a 12 month high of $65.60. The stock has a 50 day moving average of $41.23 and a 200 day moving average of $40.28.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.20. The business had revenue of $8.90 million during the quarter, compared to analyst estimates of $0.77 million. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. The firm’s revenue was up 709.1% compared to the same quarter last year. As a group, equities research analysts forecast that Janux Therapeutics will post -1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the transaction, the insider now directly owns 3,271,216 shares in the company, valued at approximately $179,099,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the transaction, the insider now directly owns 3,271,216 shares in the company, valued at approximately $179,099,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tighe Reardon sold 822,721 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $45,043,974.75. Following the transaction, the chief financial officer now owns 633,673 shares in the company, valued at $34,693,596.75. The disclosure for this sale can be found here. Insiders have sold 3,000,000 shares of company stock worth $164,250,000 in the last ninety days. 35.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JANX. Nisa Investment Advisors LLC increased its holdings in shares of Janux Therapeutics by 10,740.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock valued at $29,000 after acquiring an additional 2,685 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Janux Therapeutics by 2,166.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 26,264 shares of the company’s stock valued at $282,000 after acquiring an additional 25,105 shares during the period. Cerity Partners LLC purchased a new position in shares of Janux Therapeutics in the 4th quarter valued at $654,000. Swiss National Bank increased its holdings in shares of Janux Therapeutics by 39.5% in the 4th quarter. Swiss National Bank now owns 31,800 shares of the company’s stock valued at $341,000 after acquiring an additional 9,000 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Janux Therapeutics in the 4th quarter valued at $553,000. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.